Investment banking titan, Morgan Stanley has declared a massive hike in the minimum salary of its junior bankers. Junior bankers can now earn up to $100,000 in the first year itself! Banks all around the world have been hiking the salaries of their employees following a mass protest of junior analysts at Goldman Sachs against inhuman working hours, unreasonable deadlines.
Moreover, although the Covid 19 pandemic has been somewhat of a death knell to many industries, the banking industry has only thrived due to an increase in the number of mergers and acquisitions, leading to an increase in profits. This has enabled many banks to hike the salaries and perks of their employees.